The Daily times. [volume] (Richmond, Va.) 1886-1889, 1887-05-13

ers?
In the House Yesterday Abram Fulker-
SON introduced the following preamble
and resolution
Whereas. the Readiuster party DON'T
nant i'm this state on the single, distinct,
and well-dc6ned issue of opposition To
the coupon feature and other provisions
of the funding bills of lS1i-l9, elected
majority of the members of the Leglsla-
ure OF tSSt-S2. and did ascertain and de-
clare by act of said Legislature, known
as the Riddlcberger bill. the just and
equitable proportion of the public debt
that should be assumed and paid by
Virginia 10 be S21 OBS 600 In round mum
bers. and that interest thereon at the
rate of per centum per annum should
De evidenced by coupons, not receivable
for taxes. and paid scmi-annually at the
office of the Treasury of the state.
Then follows some five hundred words
reciting that the Democratic Conventions
of 1888 and 1885 had adopted the Riddle.
berger settlement The whole boiled
down is. i'm substance, a reclamation OF
the Riddlebcrger bill, and declaring that
it shall be- that or nothing.
YOUR MONEY OR YOUR LIFE, OR ROTH II
NECESSARY.
The Governor in his message OF March
10Th, 1857, 10 this General Assembly
said. page n. I'm recommending a debt
commission. such a commission should
only Dee empowered to explain the settle
ment of 1881 - lthe Riddleberger settle
menu To the creditors, &c II should
be clothed with no other power, and have
mo- other duties tO perform, bat 10 urge
them the crcditOrs) TO accede 10 the set
Element Virginia has decreed there
fore
Resolved Cthe Senate c0ncurring) That
the Joint committee ON the debt settle
mrut is hereby instructed to submit 10
the Committee of the Council OF Foreign
Bondholdcrs the proposition to settle the
State debt ON the terms proposed by the
Riddleherger bin. and i'm the event OF It's
non-acccptancc the joint committee shall
cease the negotiation and report ITS ac-
ton 10 the General Assembly with all
the proceedings of the Debt Commission
from its inception.
Mr. Fulkcrson said he hoped the House
would consider This matter; that IT Is i'm
p0uant. and that they could DO what
they pleased with IT, He thought II
was time the House was taking some
ction I'm reference 10 the subject, and
he therefore moved suspension of the
rules I'm order 10 have the resolution
placed upon the calendar
The House suspended the rules and the
resolution went upon the calendar.
RHEA's REMEDY.
senator Rhea. Of Washington offered
substitute for the resolutions proposing
amendmenments 10 the Sth and 10Th
sections of Article Y of the Constitu
iion in reference 90 taxation and finance.
The substitute provides that IN lieu OF
the Sch section the following be inserted
as the sth section The General As
-cmbly shall provide by law, a sinking
fund, 10 be applied solely to the payment
and cxtinguishment Of the state debt
as recognized IN the l0,h section OF
this article of the Constitution; which
sinking fund shall be- continued until
the eXingui-hmcnt OF such State debt
and every law hereafter enacted by the
General Assembly, creating debt or au-
thorling loan, shall provide sinking
fund for the payment Of the same.
I'm the place of the 10Th section the sub
stitute proposes the following 10 be the
lOih section no money shall be paid
ont of the State Treasury except In pur-
suancc Of appropriations made by law
and mo- appropriation shall ever be- made
for the payment of any debt or obligation
created in the name of Virginia by the
usurping and pretended State authorities
assembled al Richmond during the late
war and no county, city, or corporation
shall levy or collect any tax for the pay
ment of any debt created for the purpose
OF aiding any rebellion against the State
OF against The United States.
10 PROHIBIT TIRE PAYMENT or THE DEBT.
"The General Assembly is hereby ex-
prcs.y prohibited from ever hereafter
making any appropriations, or from pass
ing amy law whatever providing for the
payment of any part OF the public debt
Of the State, except such part thereof as
has heretofore been issued under and in
pursuance Of the provisions Of the act Of
Assembly approved February H., 1882,
entitled an act to ascertain and declare
Virginia. equitable share Of the debt
created before and actually existing at
the time Of the partition Of her territory
and resources, and 10 provide for the
issuance OF bonds concerning the same,
and the regular and prompt payment Of
the interest thereon and except also
such bonds and other obligations Of the
state as are now held by incorporated
college, or other institutions or semina-
ries Of learning within the State so long
as they may continue 10 hold the same
Mr. Rheas resolution was passed by
and ordered 10 be printed.